EBRD promotes climate finance and SME lending in Mongolia

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  EBRD offers US$ 70 million package deal to Khan Financial institution of Mongolia
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  GCF helps inexperienced financing and new alternatives for women-led companies
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  Technical help by Japan and We-Fi

The European Financial institution for Reconstruction and Growth (EBRD) is offering contemporary funds and creating new progress alternatives for grassroots companies in Mongolia by providing a monetary package deal of US$ 70 million to the nation’s largest industrial lender Khan Financial institution.

The package deal consists of a senior EBRD mortgage of as much as US$ 45 million underneath the Financial institution’s Inexperienced Financial system Financing Facility (GEFF), which can assist enhance entry to inexperienced applied sciences for native households and small and medium-sized enterprises (SMEs) within the nation. The mortgage is supported by concessional financing of US$ 15 million supplied by the Inexperienced Local weather Fund (GCF).

The GEFF mortgage will profit from technical cooperation funds of as much as €6 million supplied by the GCF and Japan.

The remaining US$ 10 million of the package deal is supplied underneath the EBRD’s Ladies in Enterprise (WiB) programme for Mongolia. This part will assist promote girls’s entrepreneurship and enterprise exercise by aiding with entry to finance, know-how and technical recommendation.

The WiB mortgage shall be supported by grant funding of as much as US$ 8 million from the Ladies Entrepreneurs Finance Initiative (We-Fi).

GEFF Mongolia is a part of the EBRD’s Inexperienced Financial system Transition (GET) strategy, by way of which the EBRD goals to turn into a majority inexperienced financial institution by 2025. The programme operates by way of a community of greater than 170 native monetary establishments throughout 28 nations, supported by greater than €5.8 billion of EBRD financing for over 220,000 purchasers to this point. These tasks have led to annual CO₂ emission reductions of greater than 9 million tonnes to this point.

As a part of its Ladies in Enterprise initiative, the Financial institution has supported greater than 90,000 girls throughout 24 economies with financing and enterprise advisory tasks, coaching and mentoring. 

Up to now, the EBRD has invested €2.28 billion million by way of 123 tasks in Mongolia’s economic system.